GBPJPY - 60 - Ready to pop!

This has been a strong one way traffic. If it would be a rocket, then we would already be in space.

But will it continue to go higher? When is that turning point happening?

It is getting squeezed on the Hourly, so it will have its pop to one of the directions. I still believe that there is some potential to the upside, because at this point, there are a lot of people who are shorting this pair. And we all know what big institutions like to do with with us... take our stops out!
So, my idea is either wait for the established direction or you can set some orders on the levels shown with careful stops. Your call, to be honest.

I might be wrong, but I will make a call here and say that we will have a pop to the upside.